Sometimes, user may notice there is a time difference between "Last Update Time" and "Query Engine Execution Finish Time" when checked in Quick View of an Intelligent Cube cache. What happens during the two timestamps for Strategy Intelligent Cube 9.x?

To answer this question, the "Query Engine finish time" is marked when the warehouse query step for generating the Intelligent Cube finishes. There are some further steps after this, including Analytical Engine step, etc. The Analytical Engine performs mathematical and logical calculations on data returned from the data warehouse. Calculations performed by the Analytical Engine include:
For detailed information regarding Analytical Engine, refer to following Strategy Knowledgebase Technical Note.
KB11194: The Analytical Engine Calculation Plan for report SQL View in MicroStrategy 8.1.x and 9.x
The "Last Update Time" of the Intelligent Cube is marked during the last step of Intelligent Cube publishing – update Intelligent Cube step. The update Intelligent Cube step should be quick as only some Intelligent Cube information and marking the Intelligent Cube to be in ready state need to be updated here. The "Last Update Time" can only be changed through the update Intelligent Cube step, which is through republishing or refreshing the Intelligent Cube.